21st Century Fox in Talks to Sell Most of Company to Disney

07 November, 2017, 01:42 | Author: Raquel Nash

Faber writes that the sides aren't now in talks at the moment, but that those talks could be revisited. However, Fox shares are up more than 5 percent on the day on the potential Disney deal; Disney shares are up about 1 percent.

The reports say the companies have been talking over the past few weeks. Disney, which under USA rules could not own two broadcast networks, would not purchase all of Fox, CNBC reported, citing the same sources.

The company would obtain 21st Century's film studio and television channels including FX, FXX, National Geographic along with worldwide stations such as Star and Sky.

21st Century Fox's management is under the belief that they can't compete with the media scale of other studios, and that Disney has the scale necessary to take its film and television productions to new heights.

21st Century Fox may be looking to readjust in line with the changing media landscape, which now sees Facebook, Amazon and Netflix dominate - Fox not having the scale to match these companies in entertainment through acquisition. Disney already owns the ABC television network and, with ESPN, is Fox's biggest rival in the cable sports business.

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We'll be sure to keep you posted on this deal. That deal is now undergoing review by United Kingdom regulators. Fox declined to comment.

The buyout mainly concerns 20th Century Fox film properties, and would also remove the company as a Disney film competitor. The House of Mouse is preparing two direct-to-consumer streaming products, one for sports and one for major franchises like Marvel and Star Wars, after pulling its content from Netflix. That might lead to a focus on doing even more sports than they now do, and that's even before you consider to the apparent corporate emphasis on sports here.

Sheikh said he is surprised that the Murdoch family, which controls 21 Century Fox, would consider giving up control of the company.

The flip side of that is that Fox would be far less diversified, and that sports would play far more of a role in their corporate bottom line, for good or for ill.

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